Microsoft To Acquire Nokia For $7.18 Billion

In this deal, Microsoft will buy nearly all of Nokia’s Devices and Services Unit Business including Nokia cell business for €3.79 billion/$5 Billion. Microsoft will also pay €1.65 billion/$2.18 Billion to license Nokia’s patents. The total would bring the deal to €5.44 Billion or $7.18 Billion or $7.18 billion. The deal is expected to close in the first quarter of 2014 with shareholder and regulatory approval.

Nokia’s CEO Stephen Elop is a former Microsoft employee. Elop was head of Microsoft Business Division, he was responsible for Microsoft Office and Microsoft Dynamics. Stephan Elop will join Microsoft after the transaction is finalized.